Price of Crude Oil (WTI) has gone too far without an important retracement. As speculations and news are no longer a factor. I expect 62.5 to be a major resistance so we are entering a short position once we confirm RSI below 70 on the daily chart aiming for a 58.5 level and perhaps lower.
I think we have reached a crucial point, let's stay close on this move.
I think we have reached a crucial point, let's stay close on this move.
Comment:
We are not getting any confirmation to enter short. Let's wait for tomorrow and check on the EIA inventory report.